ANZ with Business Confidence and Activity Outlook for New Zealand in May

Business Confidence jump to 11.3

  • prior 6.2

Activity Outlook down to 30.4

  • prior 32.1

ANZ also reporting that inflation expectations (one-year out) fell to 1.39%

ANZ comment on the results - economy going at a 'decent clip' (i.e. decent pace), with a 'solid base':

  • Migration strong
  • House prices 'booming'
  • Construction sector upbeat

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NZD back near its session high (its benefitting from pretty much across the board US dollar weakness so far this session).